G&C Mutual Bank Essential Worker Home Loan

A home loan with all the features you might need, exclusively for essential workers.

Offering a home loan with important features like extra repayments, redraw and a 100% offset account, the G&C Essential Worker Home Loan is one that ticks all the boxes. Aimed exclusively at essential service workers, the bank takes into consideration non-traditional salaries, like from shift work or overtime.

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Review by

Rebecca Pike is Finder's senior writer for money. She joined Finder after almost four years writing for business publications in the mortgage and finance industry, including three years as editor of Mortgage Professional Australia. She regularly appears as a money expert on programs like Sunrise and Today, as well as across radio and newspapers. She also holds an ASIC-recognised Tier 1 Generic Knowledge certification.

Expert review

If you’re an essential worker with shift work and overtime, and you are worried about getting a home loan, G&C Mutual Bank’s solution might be the right one for you. Many banks need simple bank statements and salary information, but G&C Mutual Bank makes it easier by accepting different types of salaries if you are in an eligible essential service.

Considering the niche product, the interest rate remains competitive so you don’t need to worry about paying a high interest rate just to get on the property ladder. It also allows you to borrow up to 95% of the property value, opening the door for more borrowers.

This loan also comes with the essential features you would need for a home loan, including a 100% offset account. You can also make additional repayments if you wanted to save interest that way, but be aware that if you wanted to redraw from those repayments you would need to pay a fee.

About this loan

What are the features and benefits of the G&C Mutual Bank Essential Worker Home Loan?

  • Essential workers. This loan is for eligible essential workers who need a home loan.
  • Loan amount. You can borrow a minimum of $100,000 and a maximum of $5 million .
  • Loan to value ratio (LVR). You can borrow up to 95% of the property's value with lenders mortgage insurance (LMI).
  • Additional repayments. This loan allows unlimited additional repayments.
  • Redraw. You can redraw from a minimum of $100, but each redraw comes with a $30 fee.
  • No ongoing fees. There are no monthly or annual fees.
  • No application fee. There is no application fee.
  • Flexible repayments. You can choose to make weekly, fortnightly or monthly repayments.
  • Split accounts. You can have up to 10 split accounts.

What fees and charges come with this loan?

  • Redraw fee: $30
  • Exit fee: $300
  • Late payment fee: $15

Who is G&C Mutual Bank?

G&C Mutual Bank is a customer-owned bank which was originally established in 1959 under the name Public Works Dept Staff Co-operative. After several mergers and name changes, it has been known as G&C Mutual Bank since 2014. It provides a range of personal finance products such as home loans, personal loans, car loans, credit cards, insurance and more.

How to apply

You can apply for the G&C Mutual Bank Essential Worker Home Loan online, via a mobile lender, at a service centre or over the phone.

What you'll need

  • Personal details such as name and date of birth
  • Contact details such as mobile number, email address and home address
  • Proof of current employment and employment history
  • Evidence of savings
  • Current income and income history (self-employed will need tax returns and financial statements)
  • Details of existing debts (e.g. other home loans, personal loans, credit cards)
  • Details of living expenses (e.g. bills, groceries, medical bills, education)


  • Australian citizens or permanent residents
  • At least 18 years of age
  • Those who meet credit assessment criteria, including sufficient income to service loan repayments
  • At least one applicant must be an essential worker

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